Fitch affirms Jenoptik

Fitch Ratings said it affirmed Jenoptik AG's ratings at senior unsecured B+ with a stable outlook and short-term B. Jenoptik's €150 million senior notes are also affirmed at B+.

The affirmation follows Jenoptik's announcement that a substantial part of its facility engineering business, which is concentrated in M+W Zander Facility Engineering Ltd. (MWZ Singapore), would be separated by listing on the Singapore Stock Exchange.

Fitch said it acknowledges that Jenoptik has made some progress in reducing its operational risk by separating the HVAC business earlier this year, and the listing of the facility engineering business represents a further step in this direction.

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